The FWD has welcomed the Chancellor’s decision to reverse plans to exempt the major supermarkets from the higher business rates multiplier in the 2025 Budget.
The association has also hailed the £3.2bn Transitional Relief scheme as well confirmation that the higher multiplier will now be 2.8p, rather than the 10p initially suggested.
Read more: FWD calls on wholesalers to contact local MPs to help fight business rates reform
Prior to the Budget, the FWD campaigned to MPs that such a move would have been dangerously anti-competitive and would have placed wholesale companies at a disadvantage to their supermarket rivals.
“We are pleased that Ministers listened and recognised the strength of the evidence we put forward. We also we, this will help cap increases for those wholesalers facing the largest rises in their rates bills,” said a statement.
Continue to check Better Wholesaling for a full Budget reaction and what it means for wholesalers.
